Yes, there are several Bank of America 0% APR credit cards and the best among them is the BankAmericard® credit card. It offers an introductory 0% APR for 21 billing cycles on purchases and balance transfers - balance transfers are subject to a fee of 3% (min $10). Once the introductory periods are over, remaining balances are subject to the card's regular APR of 14.99% - 24.99% Variable (based on creditworthiness). The BankAmericard credit card has a $0 annual fee.
In addition, Bank of America offers credit cards with extensive rewards that also allow you to finance your purchases and pre-existing debt. There’s also a selection of 0% APR student credit cards, some of which also offer rewards, while having more lenient approval requirements. Overall, there are many Bank of America 0% APR credit cards. Most offer intro 0% APRs on both balance transfers and new purchases, while others (mostly Bank of America business credit cards) have 0% intro promotions for one type of transaction.
Credit score requirements for Bank of America 0% APR credit cards
No matter what type of card you’re looking for, you should be able to find a 0% offer that fits your needs. But unless you’re a student, you’ll need good or excellent credit to get any Bank of America 0% APR card.
Here are some Bank of America 0% APR credit cards:
0% for 18 months; Balance transfer fee: 3% (min $10)
16.99% - 26.99% (V) (based on creditworthiness)
A Bank of America 0% APR can be a great tool for financing a big purchase or paying off a balance transfer. Just try to budget your monthly payments so that you pay off your entire balance by the end of the 0% introductory period. And if you’re making a balance transfer, don’t forget that a fee will also get tacked on. And any remaining balances will be subject to the card's regular APR after the introductory periods are over.
The Bank of America credit card interest rate can be anywhere from 14.99% (V) to 26.99% (V). It depends on both your credit standing and which Bank of America credit card you apply for. All Bank of America credit card APRs are variable, meaning they can change over time.
BankAmericard® credit card14.99% - 24.99% Variable regular APR. Intro APR of 0% for 21 billing cycles on purchases and 0% for 21 billing cycles for any balance transfers made in the first 60 days. 3% (min $10) balance transfer fee.
Bank of America® Unlimited Cash Rewards credit card16.99% - 26.99% Variable regular APR. Intro APR of 0% for 18 billing cycles on purchases and 0% for 18 billing cycles for any balance transfers made in the first 60 days. 3% (min $10) balance transfer fee.
Bank of America® Travel Rewards credit card16.99% - 26.99% Variable regular APR. Intro APR of 0% for 18 billing cycles on purchases and 0% for 18 billing cycles for any balance transfers made in the first 60 days. 3% (min $10) balance transfer fee.
Each Bank of America credit card also has more than one interest rate. There’s the regular APR, which applies to purchases and balance transfers and ranges from 14.99% (V) to 26.99% (V). Several cards have a 0% APR on purchases and/or balance transfers for a certain number of months, before the regular APR takes effect. And if you miss a payment, you could have a penalty interest rate of up to $40. Ultimately, there is also an APR for cash advances that can be anywhere between 19.99% - 29.99% (V), depending on your creditworthiness and the card.
If you want to increase the chances of getting a low Bank of America credit card interest rate, you should make sure your credit is as good as possible before applying. Doing anything you can to bump up your income can also make a difference. But if you pay your credit card bill in full every month, you won’t ever have to worry about the interest rate.
You can potentially extend a 0% APR on a credit card by calling the credit card company and asking them if they can extend the promotion. Success could depend on which credit card company it is, your relationship with them, your current account balance, and other factors that the credit card company won’t publicly disclose. There is no exact science to getting an extension on a 0% APR period, and it’s unlikely to work. So it’s important to remember that your mileage may vary.… read full answer
How card issuers determine who gets a 0% APR extension
Think about it from the card issuer’s perspective. Promotional 0% APR periods aren’t a product of a card issuer’s kindness - they’re business decisions. And granting a 0% APR extension is also a business decision.
The current balance on your credit card may play a part in whether or not you’ll receive a 0% APR extension after you ask. If you have been racking up a big balance over the course of a long 0% interest period and you want more time to pay off the debt with no interest, you’re unlikely to fit the criteria for an extension. The card issuer stands to make more money from your high balance by charging interest. That’s why card issuers offer 0% APR periods in the first place.
On the other hand, if your balance is $0 when you call for an extension, you’re more likely to get one. That’s because the issuer will earn more in processing fees from your future purchases than they would by charging you interest on a $0 balance. Plus, the card issuer has another chance that you’ll spend more than you can afford to pay off before the end of the zero-interest period.
Threatening to close your account
Some users in forums online have had success with threatening to cancel their credit card unless the 0% APR promotion is extended. This could be a good idea, because you may get sent to a retention representative who is able to offer an extension or some other promotion.
However, other reports suggest that if your account doesn’t meet certain criteria, the card issuer may simply take your threat as an order to close your account, and send you a bill for the remaining balance on your card. If your account is closed, your credit score could take a hit, and you’ll still owe any balance on the card plus the interest that accrues while you pay it off. This is clearly a risk, so it’s important to weigh out other options before you call with a threat.
Other options for extending a 0% APR period
Consider actually taking your business elsewhere. There are lots of credit card companies out there, and many have 0% APR periods for purchases and balance transfers. Some don’t even have balance transfer fees. If you have a balance on your credit card and your credit is good, consider applying for a balance transfer credit card with a 0% interest period and no transfer fee.
Keep in mind, however, that 0% APR offers won’t always be readily available, and may be less available in an economic downturn, for example. So it’s a risky move to rely on this as a future strategy.
The Bank of America Customized Cash Rewards credit card APR range is 16.99% to 26.99% Variable. However, the exact interest rate that applicants get will largely depend on creditworthiness. Applicants with high credit scores, lots of income and little debt will get the lowest Bank of America Customized Cash Rewards credit card APRs.
The Bank of America Customized Cash Rewards credit card also offers an introductory APR of 0% for 18 billing cycles for purchases and 0% for 18 billing cycles for any balance transfers made in the first 60 days.
To put these numbers in perspective, the average APR for new credit card offers is 18.89%, according to WalletHub’s latest Credit Card Landscape Report. In addition, the average length of a 0% purchase APR is 12 months, while the average length of a 0% balance transfer APR is 13 months.
All in all, the Bank of America Customized Cash Rewards credit card’s interest rates are decent, but there are better options for people with excellent credit who plan to carry a balance on their credit card.
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